HIP-27 - Quadratic voting power

I also like the VDAO token as action is required for those who wish to participate in governance. It is also symbolic since it initially started out as a HIP-21 which required the Harmony team to make changes. This VDAO token is a workaround which removes the dependency on the busy team at Harmony and allows us to determine how we would like to self-govern.

I believe that wherever possible, basic voting should be used. As explained in this video, it states that any vote which has more than two options, it’s mathematically impossible to design a voting system that doesn’t violate at least some theoretically desirable criteria.

As @ben2k_Stakeridoo suggested, approval voting for Governor Elections keeps it simple enough.

My main concern is how do we find the balance where small validators’ voices matter, but at the same time, the larger validators who have received large stakes also has the ability to represent all those people backing them, without bordering the ‘unfair’ territory (e.g 900 million staked)

My initial thought would be to implement a weighted voting system, but with diminishing returns by following some sort of logarithmic curve…

For example:
A small validator with 1million staked would have 1 VDAO voting token.
A validator who has 10 million staked would have 1.6 VDAO voting tokens.
A validator who has 50 million staked would have 2.1 VDAO voting tokens.
A validator with 100 million staked would have 2.6 VDAO voting tokens.
A validator with 200 million staked would have 3 VDAO voting tokens.

Granted these are just arbitrary numbers that I’ve used in there but I think you get where my head is at. Would love for others to criticise or give feedback as this is a significant topic which requires everyone’s input. Any math/stats wizards out there? :rofl:

A potential flaw with the above system is that it’s possible to spin up new validators just to get more voting power. This is why we need to discuss and put rules in place!

Edit: As for who can vote, I think it should still be the validators only who can vote (for VDAO proposals). Delegators should continue to express any opinions/concerns to their validators, as they currently do.

6 Likes